MNP and Goody raise RM654k from crowdfunding exercise

By MARK RAO

Crowdfunding platform investmentmy.crowdo.com (Crowdo) has helped raise RM354,000 and RM300,000 for MNP Auctioneers (Central) Sdn Bhd and Goody Technologies Sdn Bhd respectively, surpassing the equity fund- raising targets set by the two companies.

MNP — a Malaysian online auction solution provider endorsed by Bank Negara Malaysia — realised 118% of its RM300,000 fundraising target, a Crowdo press statement yesterday noted.

The platform covering pre-sales to marketing previously secured an investment from Bursa Malaysia-listed REDtone International Bhd founder Datuk Wei Chuan Beng.

The REDtone Group is an integrated telecommunications service provider.

Goody, meanwhile, realised 200% of its RM148,680 fund-raising target, with the online editor platform standing to reach over 500% of the target if not for the set ceiling amount.

The company founded in June 2015 provides writers the opportunity to produce content to young readers and records 15 million page views monthly to establish itself as the top Chinese media portal in Malaysia.

Goody is presently engaged in talks with strategic investors to help to take the business further.

Crowdo said the two financing exercises add to its track record in the equity crowdfunding space, having previously aided The Parenthood to raise RM2.64 million in funds and featured The Nuren Group — the first venture capital fund-led equity crowdfunding offer.

Leo Shimada, CEO and co-founder for the regional-based financial technology startup, said the equity crowdfunding market is now ready to grow in scale, having successfully gone through its proof of concept stage.

“With the back-to-back successes of MNP and Goody, Crowdo has demonstrated its ability to source for high-quality startups and continuously facilitate successful equity crowd-funding offers through its platform and community,” Shimada said in its statement.

Crowdo currently operates in Malaysia, Singapore and Indonesia with over 34,000 members globally, and is registered with the Securities Commission Malaysia, the Financial Services Authority of Indonesia and the Monetary Authority of Singapore.